The HS2 rail project's budget has doubled, with estimated costs now ranging from £87.7 billion to £102.7 billion in 2025 prices—nearly £60 billion more than initially projected. The target opening schedule has been delayed by 13 years, now expected between May 2036 and October 2039.
CEO calls cost increase 'terrible news'
HS2 chief executive Mark Wild described the cost increase as 'terrible news,' attributing it to 'immaturity of design' when work started. However, he expressed confidence in the new robust estimates, stating that the project team now has a clearer understanding of the challenges ahead.
Slower trains and political blame
Transport secretary Heidi Alexander announced that trains will run slower than planned, at a maximum of 320kmh (199mph). She blamed 'failures of successive Conservative governments' for the 'obscene increase in time and costs.' Wild warned that canceling the project could cost between £33 billion and £58 billion, while former Tory minister Sir Gavin Williamson called for the 'busted project' to be brought to a close.
The HS2 project, intended to improve rail connectivity between London, the Midlands, and the North, has faced repeated delays and budget overruns since its inception. The latest estimates have sparked renewed debate over the viability of the project, with critics arguing that the escalating costs outweigh the potential benefits.
